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UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

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Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#181

Post by tomjen3 »

bko wrote: post #59
CommanderData wrote: post #9

We have a corrupt government and media that itch each others back. There's still a complete lack of urgency. A potential new prime minister trying to defend profits of energy companies recently on TV just shows you the Modus operandi of the political class. It might push people to riots in the streets.

From the article: >The investment bank predicted that the country’s retail energy price cap — which limits how much households pay for heating and electricity — would be raised to £4,567 in January and then £5,816 in April, compared with the current level of £1,971 a year.... Nabarro said Citi’s new forecasts had taken account of a 25 per cent increase in wholesale gas prices last week and a 7 per cent rise in wholes…

The problem is that there isn't enough gas being produced because of the war. The solution to this is to make the gas companies pay war profiteering taxes (say 98%) as their income is soaring because of a war, and use the money to invest in other ways to heat homes. Scotland has a lot of coal, why not start looking at creating coal gas?

Heat pumps would be better, but there is already an insane queue for those.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#182

Post by [deleted] »

tialaramex wrote: post #144
evandijk70 wrote: post #73

Earlier quoted context omitted.

Why are these numbers proving you right? Those people that made an decision to transition to a sustainable lifestyle by: - Isolate their house and/or live in a small, well isolated apartment - Buy solar panels and a heatpump. - Save gas by wearing an extra sweater and setting the thermostat a bit lower. are affected far less by this massive inflation. Of course, for the 37% in the UK that do not own a house (probably…

The word you probably want is "insulate". A thermally insulated house (it's common to skip the word "thermally" but we can insulate for noise for example) will retain heat better and thus be less expensive for the same volume to heat during a cold winter. If the house was isolated that might actually make heat loss worse, because it suggests other homes are quite distant. For example my sister's house is an "end terr…

[deleted]

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#183

Post by evandijk70 »

M2Ys4U wrote: post #157
evandijk70 wrote: post #73

Earlier quoted context omitted.

Why are these numbers proving you right? Those people that made an decision to transition to a sustainable lifestyle by: - Isolate their house and/or live in a small, well isolated apartment - Buy solar panels and a heatpump. - Save gas by wearing an extra sweater and setting the thermostat a bit lower. are affected far less by this massive inflation. Of course, for the 37% in the UK that do not own a house (probably…

Even for the people that own their own home there's also the capital required to install insulation, solar panels or a heat pump. How many of those home owners do you think have tens of thousands of pounds just laying around that they can spend on those upgrades? (and that's after taking in to consideration the grants available)

If you look at the amount of cars driving around in the UK (similarly priced as all the upgrades combined), probably most homeowners. Also, if someone does not have sufficient capital, there are subsidised lease options for all upgrades.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#184

Post by sofixa »

TacticalCoder wrote: post #112
trgn wrote: post #71

Earlier quoted context omitted.

Europe is going to come out strong out of this whole mess. The political unity so quickly after the start of the war was unexpected (and admirable). Ten years from now, Europeans will drive electric (if they'll drive at all), solar panels will be everywhere, and the continued flex-work-from-home revolution will have created an enormous amount of extra time for everybody. They'll be comfy in their sustainable homes an…

> Ten years from now, Europeans will drive electric (if they'll drive at all) Most cars sold in Europe aren't electric: only 13%. Average car life in Europe is 11 years or something like that. So, no, ten years from now Europeans won't be all driving electric, far from it. Also something like 2/3rd of all europeans live in suburbs or rural: so, yes, they'll still be driving (or using horses). People enjoying the publ…

> Also something like 2/3rd of all europeans live in suburbs or rural

European Suburb != American suburb. I live in the suburbs of Paris, and i have two regular train lines (as in 15 minutes cadence in off peak times) within walking distance. The vast majority of commuters in and around Paris use public transit, even when they live in small towns of a few hundred/thousand inhabitants (because even those tend to have train stations). Car trips still exist, but there are massive new projects to improve public transit even more (multiple hundreds of km of new metro lines in the suburbs, multiple new tram lines in the suburbs, etc.).

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#185

Post by [deleted] »

ak_111 wrote: post #114
yrgulation wrote: post #68

Earlier quoted context omitted.

"ban loads of our low paid workers" wait until you learn how much lower people are getting paid now that they depend on a work visa. hint: a lot less than europeans coming in pre-brexit.

You need to factor in the cost of training them and their quality of service. For example European drivers usually have better English skills or have worked in similar coffee shops before, used to driving in Europe, familiar with cleaning and construction regulations, ...

[deleted]

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#186

Post by alt227 »

data_maan wrote: post #145
automatic6131 wrote: post #102

Earlier quoted context omitted.

If you glue yourself to a road, you could be supporting an end to pedophilia, but I'll still cheer the coppers arresting you so I can go where I want.

Somehow this sounds to me like you would rather support pedophilia than see your precious right to "go where you want" restricted. Standard hedonism of the typical climate change deniers here. Go on, people, nothing to see ...

A common short sited assumption to make. In no way did the parent suggest he supported it, just an example that the average person cares mostly about things that directly affect their lives regardless of the bigger causes at play.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#187

Post by sofixa »

grnmamba wrote: post #126
trgn wrote: post #71

Earlier quoted context omitted.

Europe is going to come out strong out of this whole mess. The political unity so quickly after the start of the war was unexpected (and admirable). Ten years from now, Europeans will drive electric (if they'll drive at all), solar panels will be everywhere, and the continued flex-work-from-home revolution will have created an enormous amount of extra time for everybody. They'll be comfy in their sustainable homes an…

Given the current uncertainty that people will be able to heat their homes in the winter, the threat of widespread power outages, and the rising cost of living across the board: No, it won't come out stronger. Once the first blackout hits, support for economic sanctions against Russia will evaporate, and people will demand a return to their previous living standards. The idea of a green fantasyland without cars is fi…

The Russophobe Eastern Europeans will absolutely stand by the sanctions. Everything is Russia's fault, they should be made to pay instead of us buckling under their blackmail. Pro-Russian elements in those countries will be loud but are IMHO unlikely to win except maybe in Bulgaria and Hungary (where they are already in power).

Western Europe, we'll see. Germany seems the most likely to crack with their appeasement bullshit and shameless ex-politicians. Fingers crossed they don't.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#188

Post by Symbiote »

break_the_bank wrote: post #128
Latty wrote: post #98

Earlier quoted context omitted.

Yes? That's why I was very specific about who should pay it. This is such a common response to any taxation. It is true that any solution done wrong can make things worse, but that's not a reason not to try and solve the problem, it's a reason to do it right. The alternative, not taxing anyone much, has been tried: it gets us here, with public services collapsing and the country becoming less and less desirable to ex…

Isn’t income over a certain number already taxed at 45%? How much higher are you proposing?

Denmark's highest income tax rate is 55.90% [1].

Britain had a 95% tax rate in the 1960s, as heard in "Taxman" by the Beatles "There's one for you, nineteen for me" [2].

[1] https://taxsummaries.pwc.com/denmark/individual/taxes-on-per...

[2] https://en.wikipedia.org/wiki/Taxman

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#189

Post by LatteLazy »

ck425 wrote: post #111
LatteLazy wrote: post #79

Earlier quoted context omitted.

It's definitely a contributing factor. The thing is, other nations just have to deal with high gas prices. The UK has to deal with high prices AND: * being reliant on gas for both heat and power * a collapsing pound driving prices higher in local currency * no supply guarantee since we left the EU (we are now "at the end of the pipe") * some of the most energy inefficient housing in Europe after decades of not invest…

I'm curious, do we actually have higher taxes than most other countries and if so in which specific areas? Personally a well paid individual no dependants I find the Tory focus on cutting taxes ridiculous but I'm aware I'm ignorant of how we compare to other countries.

Comparing tax rates is notoriously detail driven but...

I earn a (healthy) 95k. I pay 35% in NI and Income tax. I'd pay another 9% in student loans if I wasn't lucky. So 44% total deductions

https://listentotaxman.com/?year=2022&taxregion=uk&age=0&tim...

In France I'd pay the exact same rate overall (95kGBP->112kEUR)

https://salaryaftertax.com/fr/salary-calculator

I think this sums up the UK: European style taxes, US Style public services.

Cynicism aside for a minute, I think we have a real issue in the UK with a diminishing tax base: fewer and fewer people contribute and they have to contribute more and more of their incomes and everyone gets less and less services.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#190

Post by sofixa »

pydry wrote: post #50
Someone1234 wrote: post #40

Earlier quoted context omitted.

True. But 5-years ago this national security reliance on foreign gas prices was well known, and little was done in the intervening time. The worry is that when the current crisis subsides that inaction will yet again fall back into favor. The solutions are, in part: - National gas storage reserve (to buffet price/supply spikes somewhat). - Expansion of green energy. - Programs to reduce usage (e.g. home and business…

It's not like this was an earthquake that we idly knew would come one day that just suddenly hit us out of the blue. NATO made a deliberate decision to bring Ukraine into the fold in 2019 and Russia reacted predictably, but not before giving us an opportunity to back down first: https://www.nytimes.com/2022/02/02/world/europe/us-nato-resp... We dove into this knowing full well the dire energy risks that escalation po…

Russian war crimes apologists are the worst. Nobody forced Russia to invade a sovereign country (or to consider itself the rightful owner of those lands for that matter), that's entirely their fault. And it was mind bogglingly stupid, as we can see a few months in, with the massive losses to their army and economy. It wasn't something to prepare for because it was unthinkable. It was still a huge risk to prepare for though.
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